• AutoTL;DR@lemmings.worldB
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    11 months ago

    This is the best summary I could come up with:


    Canada’s gross domestic product was essentially unchanged in July, as the service sector expanded slightly while goods-producing industries shrank.

    Agriculture and forestry, transportation and warehousing, retail and professional services also shrank.

    On the positive side of the ledger, the biggest source of strength was the mining and oil and gas sector, which bounced back after experiencing declines in June due to forest fires.

    Statistics Canada released data this week showing Canada’s population grew by more than a million people in the last year, a surge in workers that should be juicing the economy under ideal circumstances.

    “Some of that stronger increase in population growth has been in a way masking … slower macroeconomic conditions,” Fan said in an interview.

    Canada’s shrinking economy in the second quarter is even worse considering that the population expanded by almost a full per cent.


    The original article contains 362 words, the summary contains 139 words. Saved 62%. I’m a bot and I’m open source!